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\n Would you pay $32 million to live here? Well, someone just did.
\n Photo: Matthew Sedacca\n <\/p>\n
Another record breaker in a moment of record breaking<\/a>: A house in Gravesend went for $32 million last week, per city records<\/a>, unseating the townhouse at 8 Montague Terrace as the most expensive residential sale in Brooklyn. (The Brooklyn Heights brownstone overlooking the Promenade sold in 2020 for $25.5 million.) If you find it ever so slightly surprising that a three-story house built in 2006 in a tiny corner of South Brooklyn can get that much \u2014 welcome to Gravesend.<\/p>\n The 10,086-square-foot home at 2126 East 4th Street belonged to Eli Gindi, a real-estate developer whose family founded the Century 21 department-store chain. Gindi appears to have unloaded his Beaux-Arts-ish McMansion in an off-market deal to Victor Hakim, the founder and CEO of the Choice Home Warranty firm, according to city records and PincusCo<\/a>, which first reported the transaction.<\/p>\n For those of you unfamiliar with the financial microclimate that is the Gravesend market, the neighborhood is the epicenter for Syrian Jews in New York City and home to members of some of its wealthiest real-estate families. In a slice of the neighborhood that some members of the community described to me as its own Gold Coast \u2014 roughly between Avenues S and U and from McDonald Avenue to Ocean Parkway, where the community\u2019s main synagogue, Shaare Zion, sits \u2014 it\u2019s not uncommon for homes to sell for upwards of $5 million. \u201cMy joke used to be \u2018I don\u2019t associate with anyone who lives past McDonald,\u2019\u201d says one person whose family owns property on the coveted blocks. \u201cWhen you factor in a community flush with money with a community that has a need to be within walking distance of each other, you create a perfect storm of a residential real-estate market where prices can get very silly very easily,\u201d real-estate agent Louis Calemine, of Calemine & Co., told me earlier this year.<\/p>\n In July, Wharton Properties\u2019 Jeff Sutton purchased a dinky, unassuming three-story home on East 3rd Street for $7 million, which he told Crain\u2019s<\/a> would be for family members. It was across the street from the two-story single-family home he purchased for $14 million in 2022 from members of the Chera family, another big name in the city\u2019s retail-real-estate world. Thor Equities\u2019 Joseph Sitt, meanwhile, bought<\/a> 2016\u2019s most expensive Brooklyn home with an $11.36 million purchase price on a 5,000-square-foot, two-story home built in 1925.<\/p>\n